The scheme’s 30th anniversary event, aimed at highlighting the organisation’s growth as well as the impact it’s has had on thousands of students from disadvantaged backgrounds in South Africa.
In a statement, Higher Education Minister, Blade Nzimande announced that to ensure that prospective students from poor and working-class families continue to have access to post school education and training, the Department of Higher Education and Training (DHET) has set aside more than R80 billion for the next three years.
“This is a massive investment in student support and an important government policy to support and transform the post school education and training system to be inclusive and accessible,” says Minister Blade Nzimande.
Since 1991, Nsfas funding has grown from disbursing R21.4 million to almost R50 billion to aid poor, yet deserving individuals seeking to further their studies at public universities and TVET colleges.
The bursary scheme has grown from funding just 7000 students to today serving close to 1 million students.
“The other notable milestone for the scheme has been the integration of all public universities and TVET colleges into the student-centred model wherein students apply directly to NSFAS for financial aid,” says NSFAS.
However, the road leading up the scheme’s 30-year anniversary has not always been easy.
During an interview, Nsfas board chairperson, Ernest Khosa, acknowledged the many challenges that the organization has been dealing with and are yet to overcome.
These include allegations of fraud and malpractice that are currently being investigated by the Special Investigating Unit (SIU).
“The investigation is at the very early stages of the investigation that is going very well, and we believe that they will recover lots and lots of funds. There's already one lot that R33 million recovered from North link College,” voiced Khosa.
Knosa says that NSFAS has come across many problems over the years, for example the high demand, need to grow base of funding, as well as backlash that came with the FeesMustFall movement.
"If you look at the amount of money that is moved towards the benefit of the students, you can't categorise NSFAS as a failure"
Studies show that approximately 3.6 million young people between the ages of 15 and 24 are not enrolled in any type of training, job, or education (NEET).
Nzimande said that TVET college administrators owe it to the nation's youth and skill development to take the lead in establishing strategic alliances with business and he has given the higher education department orders to make sure that the new performance agreements of TVET Colleges are adequately tracked and reviewed.
